Trust and Governance
ASBAIT was set up and operates by an "Agreement and Declaration of Trust" in accordance with the laws of the State of Arizona, including, without limitation, Arizona Revised Statutes Section 15-382 as it may be amended from time to time.
Operational authority of the Trust is by the Board of Trustees. The Board of Directors of the Arizona Association of School Boards appoints the Trustees. The Trustees consist of at least one school district governing board member, at least one superintendent of a school district, and at least one school district business manager.
The Trustees meet four to six times per year to conduct the business of the Trust. Their major responsibilities include approving renewal procedures, overall budget, contractors, and independent audit and actuarial reports. The Trustees may also hear and make decisions on Appeals or Exceptions for claim payments to member employees or dependents.